Vaibhav Agarwal Sells 7,047 Shares of RingCentral (NYSE:RNG) Stock

RingCentral, Inc. (NYSE:RNG) CFO Vaibhav Agarwal sold 7,047 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $46.17, for a total value of $325,359.99. Following the completion of the transaction, the chief financial officer directly owned 169,282 shares in the company, valued at $7,815,749.94. The trade was a 4.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Vaibhav Agarwal also recently made the following trade(s):

• On Thursday, May 21st, Vaibhav Agarwal sold 4,044 shares of RingCentral stock. The shares were sold at an average price of $42.06, for a total value of $170,090.64.
• On Monday, May 18th, Vaibhav Agarwal sold 2,220 shares of RingCentral stock. The shares were sold at an average price of $40.62, for a total value of $90,176.40.

RingCentral Stock Performance

NYSE:RNG traded down $2.75 during mid-day trading on Tuesday, hitting $46.35. The company had a trading volume of 2,171,264 shares, compared to its average volume of 1,995,598. RingCentral, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $49.85. The business’s fifty day moving average is $40.29 and its two-hundred day moving average is $33.85. The firm has a market cap of $3.89 billion, a P/E ratio of 49.31, a P/E/G ratio of 1.44 and a beta of 1.14.

RingCentral (NYSE:RNG) last announced its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.03. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The company had revenue of $644.20 million during the quarter, compared to the consensus estimate of $642.73 million. During the same period in the prior year, the company earned $1.00 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. Equities analysts forecast that RingCentral, Inc. will post 2.79 earnings per share for the current year.

RingCentral Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, June 2nd. RingCentral’s dividend payout ratio is 31.91%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. WealthCollab LLC raised its holdings in shares of RingCentral by 59.7% in the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock valued at $26,000 after purchasing an additional 259 shares during the period. Pictet Asset Management Holding SA raised its holdings in shares of RingCentral by 3.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker’s stock valued at $442,000 after purchasing an additional 362 shares during the period. Rothschild Investment LLC raised its holdings in shares of RingCentral by 15.8% in the 4th quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker’s stock valued at $77,000 after purchasing an additional 366 shares during the period. Sovereign Financial Group Inc. raised its holdings in shares of RingCentral by 4.2% in the 1st quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker’s stock valued at $378,000 after purchasing an additional 409 shares during the period. Finally, Meeder Asset Management Inc. raised its holdings in shares of RingCentral by 127.3% in the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock valued at $27,000 after purchasing an additional 410 shares during the period. 98.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RNG has been the subject of several recent analyst reports. Robert W. Baird set a $45.00 price target on RingCentral in a report on Friday, May 8th. Oppenheimer reiterated an “outperform” rating and set a $50.00 price objective on shares of RingCentral in a report on Friday, May 8th. Wells Fargo & Company increased their price objective on RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Morgan Stanley increased their price objective on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, UBS Group set a $38.00 price objective on RingCentral in a report on Friday, February 20th. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $43.00.

RingCentral Company Profile

RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.